Deals
Focusing on commercial property transactions? Stay up to date with the latest investment sales and lease agreements across all major commercial property types: Both traditional and flexible office space properties, retail spaces, industrial real estate, life sciences, data centers, and more.
Kobalt Music Reduces Footprint at 2 Gansevoort in New, 10-Year Deal
Kobalt Music Group has opted to maintain a presence in the Meatpacking District by renewing its lease at 2 Gansevoort St.
This decision comes after Kobalt previously subleased all of its office space in the nine-story building. According to an anonymous source familiar with the deal, Kobalt signed a new, 10-year lease for a smaller footprint of 10,000 square feet. The asking rent for this space was $115 per square foot.
TNT Services Grows Industrial Footprint in Maryland
TNT Services Group has announced the relocation and expansion of its suburban Maryland facilities. The company signed an agreement for 11,501 square feet of flex/R&D building space at St. John Properties’ Milford Town Center in Bowie, Md. It’s expected to move its operations from its current 9,800-square-foot premises in Prince George’s County this summer.
Black Lion Acquires Miami Beach Building, Plans Ultra-Luxury Office Transformation
Black Lion — a prominent real estate development company led by Robert Rivani — has announced the acquisition of The Lincoln, a mixed-use property located at 1691 Michigan Ave. in Miami Beach. Black Lion purchased the building for $62.5 million. The sale is the largest of its kind on the Miami office market since 2016.
Convene Expands Midtown Lease for 360 Madison
Convene, a leading designer and operator of premium meeting, event, and flexible workspace solutions, is expanding its presence in Midtown Manhattan. The company has signed a lease for an additional 22,500 square feet of space at 360 Madison Avenue, where it already operates a successful venue.
PUMA Grows U.S. Presence with New Hollywood Creative Office Space Lease
PUMA inked a deal for 23,000 square feet of office space at Bardas Investment’s Hollywood office at 6345 Fountain Avenue. The move, scheduled for early 2025, will allow the German sportswear manufacturer to bolster its U.S. presence.
CHEF’STORE Prepares First Location in Atlanta Area
The Sandy Springs retail location marks CHEF’STORE’s first in the metro area and is a testament to the affluence of the north Atlanta submarket.
Fast-Food Chain Moves into New Headquarters at Former Office Depot Campus in Boca Raton
I Heart Mac & Cheese — a growing fast-food chain with more than 40 locations across the U.S. — has signed a lease for a new headquarters within Boca Raton, Fla.
The move away from the chain’s previous digs at 621 NW 53rd St. marks an expansion of its footprint in the city. The company is set to occupy a 7,118-square-foot office space at 6600 N. Military Trail, which is part of the Office Depot corporate campus. I Heart Mac & Cheese will relocate about 30 of its employees to the third floor of the building.
Kellen Shifts Operations from Atlanta to D.C. Office
Kellen — an association management company that employs about 250 people globally — has relocated its headquarters from Atlanta to Washington, D.C. The company signed a new lease that expands its footprint at the National Press Building to 32,000 square feet, effectively doubling its D.C. presence.
The Siegel Group Acquires Historic Downtown Las Vegas Retail Property
Since it began investing in this market in the early 2000s, The Siegel Group owns and operates several commercial properties ranging from Las Vegas retail space to hotels, dining, and apartment communities.
Madison Realty Snags Distressed Queens Office Space in $80 Million Deal
Madison Realty Capital’s Urian Yap acquired the property at 41-60 Main St. on February 7 for $80 million. The Queens property, which houses tenants like Capital One Bank, was among several under mezzanine loans.
